snowfoxzc 发表于 2010-7-3 08:14
1. It's the tangent point of the utility indifference curve and budget line;

2. Based on the plot in (1), which I assume you have drawn already, the new budget line would be steeper, and it would rotate around the intercept point and shift down to leisure axis. i.e. Hicksian demand is applied here. You can look up in any microeconomics textbooks, say MWG, or Varian. The max amount of the money that Sid would like to pay, has to make sure the Sid's new utility is no less than the utility before.

3. The income and substitution effects, as two opposing forces, would lead to difference results. In this case, Sid's new offer is a bit like a pay rise. But whether he/she would do more work or not, depends on which of the two effects are stronger.

taoer6688 发表于 2010-7-3 16:15

snowfoxzc 发表于 2010-7-3 08:14
1. It's the tangent point of the utility indifference curve and budget line;

2. Based on the plot in (1), which I assume you have drawn already, the new budget line would be steeper, and it would rotate around the intercept point and shift down to leisure axis. i.e. Hicksian demand is applied here. You can look up in any microeconomics textbooks, say MWG, or Varian. The max amount of the money that Sid would like to pay, has to make sure the Sid's new utility is no less than the utility before.

3. The income and substitution effects, as two opposing forces, would lead to difference results. In this case, Sid's new offer is a bit like a pay rise. But whether he/she would do more work or not, depends on which of the two effects are stronger.

谢谢，但我不太懂。第2题是联系的消费者理论的哪个方面啊？我觉得第2题的图，X和Y轴不再是leisure和money了吧？感觉上应该换成income和consumption。而且图要画的是millie需求的钱不是sid愿意提供的钱。millie是女生,sid是男生噢。